HK-Listed Stocks with Bullish Traction: COSCO Shipping, China Graphite

COSCO SHIPPING Energy Transportation (1138)
COSCO SHIPPING Energy Transportation rose on strong momentum yesterday, as it attempted to breach the immediate
resistance of HKD5.80. The stock is charting a “higher high” with “higher low”, which suggests that the bulls are in control now. If the momentum follows through and pushes the stock past the immediate threshold, it may travel towards HKD6.10, followed by HKD6.40. On the flip side, falling below MYR5.35 would negate our expectation.

China Graphite Group (2237)

China Graphite Grp surged past the immediate resistance of HKD0.65 on high trading volume, and could extend its upside
movement. The stock has crossed above the immediate resistance to record its 2-week high. This, coupled with the pick-up in trading volume, indicates that bulls are gaining traction. If the momentum continues, it should climb towards HKD0.83,
followed by HKD0.94. Towards the downside, breaches below the HKD0.56 support would mean that the sellers are in control.

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